CorMedix (NASDAQ:CRMD) Earns Buy Rating from D. Boral Capital

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating reaffirmed by stock analysts at D. Boral Capital in a report released on Wednesday,Benzinga reports. They presently have a $15.00 price target on the stock. D. Boral Capital’s price objective indicates a potential upside of 58.06% from the stock’s previous close.

Several other equities analysts also recently issued reports on CRMD. Royal Bank of Canada boosted their price objective on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com upgraded CorMedix to a “sell” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, CorMedix has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

CorMedix Stock Down 6.1 %

Shares of NASDAQ:CRMD opened at $9.49 on Wednesday. The company’s 50-day moving average price is $10.49 and its 200 day moving average price is $9.44. The company has a market cap of $575.82 million, a PE ratio of -11.72 and a beta of 1.57. CorMedix has a fifty-two week low of $3.03 and a fifty-two week high of $13.85.

Institutional Investors Weigh In On CorMedix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning bought a new position in CorMedix during the third quarter valued at about $129,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of CorMedix by 10.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 52,184 shares of the company’s stock valued at $422,000 after purchasing an additional 4,935 shares during the period. Sigma Planning Corp increased its stake in CorMedix by 23.8% in the 3rd quarter. Sigma Planning Corp now owns 39,947 shares of the company’s stock worth $323,000 after purchasing an additional 7,679 shares in the last quarter. Intech Investment Management LLC purchased a new stake in CorMedix during the third quarter valued at about $119,000. Finally, FMR LLC boosted its holdings in shares of CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after buying an additional 1,625 shares during the period. Institutional investors own 34.18% of the company’s stock.

About CorMedix

CorMedix Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.